International - Copperbelt Katanga Mining

Top 10 cobalt operations outside of China and the DRC

October 22, 2021October 22, 2021 admin

The global cobalt supply chain remains geographically concentrated — in the Democratic Republic of Congo (DRC) for mine production and China for refining — which will likely pose procurement challenges for battery manufacturers, market analyst Fitch Solutions finds in its latest industry report. However, Fitch notes that there is currently a solid global project pipeline, due to the rise in cobalt prices and the expected demand boom amidst battery manufacturing projects, which will aim to diversify, to some extent, production channels. Cobalt is primarily the byproduct of nickel and copper mining, and the global… Read More Here

Copper International

Copper price falls as supply squeeze begins to fade

October 22, 2021October 22, 2021 admin

The copper price fell sharply on Thursday as the supply squeeze on the London Metal Exchange (LME) eased and attention refocused on the threat of slowing demand in top consumer China. Copper for delivery in December fell 3.39% on the Comex market in New York, touching $4.5745 per pound ($10,063 per tonne), despite news that the world’s largest publicly traded copper miner produced less copper than expected. Freeport-McMoRan produced 987 million pounds of metal in the third quarter, with the output falling short of the 1 billion pounds average estimate of… Read More Here

Equipment & Technology International Mining technology

Epiroc sees order intake jump by 31% in Q3

October 21, 2021October 21, 2021 admin

Epiroc, an equipment supplier for the mining industry, saw its order intake increase by 31% year-on-year (YoY) in Q3 2021 as it made approximately 12.24 billion SEK ($1.42 billion) despite what it called “global supply chain challenges”. The company’s operating profit increased by 29% to 2.35 billion SEK ($273.3 million). It attributed this, and the order intake increase, to “several large orders” and growing customer demand for equipment. Additionally, it said many of its orders in Q3 were for its “most advanced technologies” involving both automation and digitalisation designed to… Read More Here

International

A surge in mining resource nationalisation from 2020, is set to continue this year and into 2022

October 21, 2021October 21, 2021 admin

A“flare up” in mining resource nationalisation from 2020, is set to continue this year and into 2022, reports financial risk management, solutions and insights firm Fitch Solutions Country Risk and Industry Research (Fitch Solutions) (Fitch Solutions). Over the past 12 months, resource nationalism in top mining jurisdictions has flared up around the world, mostly in emerging markets – a trend it expects to continue over the coming few years, as underlying drivers of resource nationalism and government intervention will remain in play. Fitch Solutions explains that resource nationalism can take… Read More Here

Mining in DRC Cobalt International

Dutch Insurer AnsvarIdéa joins Fair Cobalt Alliance

October 21, 2021October 21, 2021 admin

Netherlands-based insurer AnsvarIdéa has become a member of the Fair Cobalt Alliance (FCA), a multistakeholder action platform that is committed to developing responsible and fair supply of artisanal mined cobalt from the Democratic Republic of Congo (DRC). AnsvarIdéa is the first company to join the FCA that is not directly involved in the cobalt production supply chain. Dr Assheton Carter, executive director at the FCA, commented: “AnsvarIdéa can be proud to be the first company outside the immediate cobalt supply chain and the first insurer to join and support us.… Read More Here

Copper International

Copper drops to $ 10,199 per tonne as China’s coal price drops

October 21, 2021October 21, 2021 admin

The price of copper fell on Wednesday as China’s pledge to lower coal prices allayed concerns about a disruption in the supply of metals and as investors turned profits after recent large gains. Copper CASH on the London Metal Exchange plunged 7.2% overnight, wiping out Monday’s gains . China’s National Development and Reform Commission said it was evaluating measures to intervene on prices and had “zero tolerance” for those who spread false information or collude in the market. The agency added that China plans to increase its coal production to 12 million tonnes per day… Read More Here

Gold International Mining Companies

The world’s top 10 gold mining companies

October 20, 2021October 20, 2021 admin

The world’s top 10 gold mining companies Unlike paper currency or many other types of assets, gold has maintained its value throughout the ages. First used by cultures in modern-day Eastern Europe in 4,000 BC to make decorative objects, the metal today represents a global business with operations on every continent, except Antarctica. The industry is dominated by a select group of majors. Together, the world’s top 10 gold miners produced 27.48 million ounces (Moz) in 2020, worth approximately $48 billion, according to data from mining intelligence. North America leading At a country level, China… Read More Here

Gold International

Gold price up after Fed official downplays chances of imminent rate hikes

October 20, 2021October 20, 2021 admin

Gold prices rose for a second day in a row Wednesdayfollowing commentary from a Federal Reserve official that played down the possibility of imminent interest rate hikes. Spot gold was up 0.7% to $1,783.70 an ounce by 11:50 a.m. EDT, near its weekly high. US gold futures also gained 0.7%, trading at $1,784.10 an ounce in New York. Bullion has fluctuated recently as traders attempt to gauge the pace at which pandemic-era stimulus will be reined in by central banks. Ongoing inflation, driven by the global energy crisis and supply chain constraints,… Read More Here

Equipment & Technology International Mining technology

Metso Outotec gears up sustainability focus with CEEC sponsorship

October 20, 2021October 20, 2021 admin

Global processing technology and service provider Metso Outotec is the latest company to join the Coalition for Eco Efficient Comminution (CEEC) as a new sponsor, growing the global network of mining industry leaders to accelerate collaboration and uptake of more eco-efficient mining and comminution. “Metso Outotec brings strong alignment and skills to support CEEC’s mission,” said CEEC CEO Alison Keogh in a media release. “Metso Outotec has a global reach, and has been championing sustainability for a long time by proactively developing technologies and partnering with mining companies to become… Read More Here

Copper International

Copper price surges through $11,000 on supply squeeze

October 19, 2021October 19, 2021 admin

Copper price continued to rally towards record highs on Tuesday as signs of extremely tight supply outweighed concerns that slowing growth in China will impact demand. Traders were paying huge premiums for quickly deliverable copper after stockpiles in the London Metal Exchange’s (LME) warehouse system tumbled to their lowest level in decades. The spread between cash and three-month futures surged to over $1,000 a tonne on the LME on Monday, a premium not seen since at least 1994. The spread has been widening since early October as demand outpaced supply… Read More Here